IPSAS (Accrual Basis) - Immersion Workshop

Why Attend

The International Public Sector Accounting Standards Board (IPSASB) issues accounting standards and other guidance relating to the financial reporting needs of national, regional and local governments, governmental agencies, and the constituencies they serve. The International Public Sector Accounting Standards (IPSASs) and Recommended Practice Guidelines (RPGs) issued by the IPSASB form a comprehensive set of authoritative international financial reporting standards and guidance for governments and other public sector entities. IPSASs exist to improve the quality of general purpose financial reporting by public sector entities, leading to better informed assessments of resource allocation decisions made by governments and other agencies, thereby increasing transparency and accountability.

Many IPSASs are largely consistent with International Financial Reporting Standards (IFRSs), which are issued by the International Accounting Standards Board (IASB). The IPSASB adapts IFRS to a public sector context when appropriate. In undertaking that process, the IPSASB attempts, wherever possible, to maintain the accounting treatment and original text of the IFRS unless there is a significant public sector issue which warrants a departure. Other standards have been developed to meet issues specific to the public sector, such as non-exchange transactions.

Some countries have adopted IPSAS accruals accounting. Others have adopted the Cash Basis IPSAS as a first step towards accruals accounting. The European Commission (EC), the International Federation of Accountants (IFAC), and the Organization for Economic Co-Operation and Development (OECD) all apply IPSASs. The United Nations (including all their agencies) have nearly completed transition to IPSASs.

This ten-day course provides a comprehensive review of the requirements for preparing financial statements and disclosures under accrual basis IPSASs. The program fully reflects the latest standards including those that become mandatory in 2018 and 2019.

IPSAS requirements will be explained in clear, simple language and illustrated with model financial statements and real-world examples. Application of the various standards is illustrated through the use of short case studies. Delegates also receive an overview of the IPSASB’s current Work Plan, including Exposure Drafts and Consultation Papers.

In addition to a review of current accrual basis IPSAS, our specialist instructors will also give guidance on transitioning to the accrual IPSAS and on the specifics of IPSAS implementation under IPSAS 33 First-time Adoption.

This program answers questions such as:

⦁ What are the current requirements for presentation of accrual basis IPSAS financial statements and related disclosures?
⦁ Where can technical and practical guidance on IPSAS be found?
⦁ How have IPSASs changed recently, and what changes can be expected going forward?
⦁ What practical issues commonly arise when implementing IPSASs?
⦁ What are the requirements for transitioning from cash or modified cash basis to the accrual basis of accounting?

Overview

Course Outline

Schedule & Fees

Course Methodology

Presentations, case studies and real-time sessions

Course Objectives

The course participants will be able to:

⦁ Learn how to prepare IPSAS-compliant financial statements
⦁ Comply with IPSAS disclosure requirements, including accounting policies
⦁ Understand accrual-based IPSAS requirements, including accounting policies and disclosures
⦁ Implement IPSAS recognition and measurement rules for assets, liabilities, revenues and expenses
⦁ Plan ahead for issues that arise when transitioning from the cash basis to the accrual basis of accounting
⦁ Identify optional and mandatory transitional provisions for first-time adopters of IPSAS
⦁ Increase planning opportunities through awareness of likely future IPSAS changes
⦁ Learn the sources of IPSAS guidance that are available
⦁ All participants receive an iPad Mini to be used for technical research during and after the course

Target Audience

⦁ Managers and staff of public sector finance teams embarking on IPSAS transition projects
⦁ Government officials responsible for IPSAS implementation projects
⦁ Finance managers and staff who are migrating from the private to public sector
⦁ Financial consultants supporting IPSAS implementations
⦁ Internal and external auditors

Target Competencies

n/a

Introduction to IPSASs

Brief background and history
IPSASB and due process
Scope and authority of IPSASs
Sources of guidance
Identifying which entities might apply IPSASs

Fundamental concepts of accrual accounting

Conceptual Framework

Presentation and Disclosures

IPSAS 1 Presentation of Financial Statements

Required financial statements
Structure
Content

IPSAS 2 Cash Flow Statements

Cash and cash equivalents
Operating, investing and financing activities

IPSAS 3 Accounting Policies, Changes in Accounting Estimates and Errors
IPSAS 14 Events after the Reporting Date
Performance and Service Reporting

RPG 1 Reporting on the Long-term Sustainability of an Entity’s Finances
RPG 2 Financial Statement Discussion and Analysis
RPG 3 Reporting Service Performance Information

Non-current Assets

IPSAS 17 Property, Plant and Equipment

Initial recognition
Subsequent measurement including optional use of revaluation approach
Depreciation
Treatment of infrastructure and heritage assets

IPSAS 5 Borrowing Costs

Choice of policy
Qualifying assets
Measurement

IPSAS 16 Investment Property
IPSAS 31 Intangible Assets

What intangible assets are held by the public sector?
Recognition of acquired and donated intangible assets
Research and development phases of internally generated intangible assets
Initial and subsequent measurement

IPSAS 21 & 26 Impairment of Non-Cash-Generating Assets & Impairment of Cash-Generating Assets

Determining which Standard should be applied
Impairment identification
Valuation approaches
Recognition
Impairment reversals
Disclosure requirements

Revenue

IPSAS 23 Revenue from Non-Exchange Transactions

Recognition and measurement of revenue from taxes and other transfer
Reflecting conditions and restrictions in the financial statements

IPSAS 9 Revenue from Exchange Transactions

Accounting treatment of exchange transactions
Project to update IPSAS 23 and 9 - Consultation Paper

IPSAS 12 Inventories

Public sector entity inventories
Inventories held for sale
Inventories held for distribution at no or nominal charge

IPSAS 11 Construction Contracts

Liabilities and Expenses

What is a liability in the public sector?

Recognition of non-exchange expenses
IPSAS 42 Social Benefits

IPSAS 19 Provisions, Contingent Liabilities and Contingent Assets

Definitions
Recognition and measurement
Disclosures

IPSAS 39 Employee Benefits

Short and long-term benefits
Recognition, measurement of pension obligations
Termination benefits

Financing and Financial Instruments

IPSAS 13 Leases

Identifying finance and operating leases
Lessee and lessor financial reporting requirements
Exposure Draft 64 - project to amend IPSAS 13

IPSAS 32 Service Concession Assets

Scope
Accounting by the grantor

IPSAS 4 The Effect of Changes in Foreign Exchange Rates

Identifying functional currency
Foreign currency transactions
Foreign operations

Financial Instruments

IPSAS 28 Financial Instruments Presentation
IPSAS 29 Financial Instruments: Recognition and Measurement
IPSAS 30 Financial Instruments: Disclosures
Public sector specific financial instruments

Exposure Draft 62 - project to update IPSAS 29

Consolidations and Interests in Other Entities

IPSAS 34 Separate Financial Statements
IPSAS 35 Consolidated Financial Statements

Boundaries of consolidation and concepts of public sector control
Consolidation requirements
Determining whether control exists

IPSAS 36 Investments in Associates and Joint Ventures

Equity method of accounting

IPSAS 37 Joint Arrangements

Identifying a joint arrangement
Distinguishing between joint ventures and joint operations
Accounting for joint operations

IPSAS 38 Disclosure of Interests in Other Entities
IPSAS 40 Public Sector Combinations

Transitioning to the Accrual Basis of Accounting

Detailed review of IPSAS 33 First-time Adoption of Accrual Basis IPSASs
Optional and mandatory transition exemptions and requirements
Alternative approaches to transition
Identifying and responding to the change management implication

$2975

Arusha

Country: Tanzania

Duration: Two weeks

Date: 18–29 Aug 2025

$2975

Accra

IPSAS (Accrual Basis) - Immersion Workshop

Overview

Course Outline

Schedule & Fees

Course Methodology

Course Objectives

Target Audience

Target Competencies

Introduction to IPSASs

Fundamental concepts of accrual accounting

Presentation and Disclosures

Non-current Assets

Revenue

Liabilities and Expenses

Financing and Financial Instruments

Consolidations and Interests in Other Entities

Other Presentation and Disclosure Standards

Transitioning to the Accrual Basis of Accounting

$2975

Country: Tanzania

Duration: Two weeks

Date: 18–29 Aug 2025

$2975

Country: Ghana

Duration: Two weeks

Date: 16–27 Feb 2026